How To Find The Best Pet Insurance Company For You
When it comes to buying pet insurance, the process is similar to getting health insurance for yourself and your family. Let’s break it down into six simple steps:
1. Research Insurance Providers.
Nowadays, you can find pet insurance from specialized pet insurers as well as established national insurers offering a variety of products. Lucky for you, we’ve already done the legwork and narrowed down the best pet insurance companies for you. Visit their websites, explore their coverage options, rates, and take a look at what other pet owners have to say in online reviews.
2. Get Multiple Quotes.
Prices for pet insurance can vary depending on factors like breed, age, and the insurance company itself. Some insurers may charge double the rates compared to their competitors for insuring pets of the same breed and age. Take a few minutes to get quotes from different insurers to find a price range that suits your budget.
3. Compare Coverage Benefits.
Once you have a shortlist of insurers, compare their coverage options. Certain companies may offer more extensive coverage in specific areas, and these differences can be crucial in your decision-making process. For instance, some insurers cover prescription food, alternative therapies, dental illnesses, and even provide coverage for lost or stolen pets.
4. Choose Your Deductible.
Your deductible is the amount you pay before the insurance company starts covering expenses. Select a deductible that you can comfortably afford. If it’s too high, you might struggle to provide necessary care for your pet. Conversely, if it’s too low, your premium may become unaffordable. Most insurers offer annual deductibles ranging from $100 to $1,000.
5. Select The Reimbursement Rate And Limit.
Reimbursement refers to the amount the insurer will pay you after filing a claim. First, choose the percentage you want to be reimbursed, typically ranging from 50% to 90% (some insurers even offer 100%). Second, decide on a reimbursement limit, which is the maximum amount the insurer will pay annually. Limits can range from $2,000 to unlimited coverage. Remember, lower limits result in more affordable premiums.
6. Enroll With Your Chosen Provider.
Thankfully, most pet insurers offer online enrollment, making the process easy and convenient. Your information will likely be stored from when you received a quote, so all you need to do is select your payment frequency, provide your payment information, and you’re good to go. Keep in mind that paying annually instead of monthly may even earn you a discounted rate.